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Earnings per Common Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Earnings per Common Share Earnings per Common Share
Basic earnings per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period presented, excluding unvested restricted stock. Diluted earnings per share is calculated by dividing net income by the weighted average number of common shares determined for the basic earnings per share computation plus the dilutive effects of stock-based compensation using the treasury stock method.
The following table sets forth the computation of basic and diluted earnings per share for the periods presented:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Net income$55.5 $72.7 $173.9 $196.0 
Weighted average common shares outstanding for basic earnings per share computation
102,970,851 103,822,311 102,917,610 103,793,851 
Dilutive effects of stock-based compensation
262,767 4,116 207,449 30,425 
Weighted average common shares outstanding for diluted earnings per common share computation
103,233,618 103,826,427 103,125,059 103,824,276 
Basic earnings per common share$0.54 $0.70 $1.69 $1.89 
Diluted earnings per common share0.54 0.70 1.69 1.89 
Anti-dilutive unvested time restricted stock5,841 162,231 47,854 162,231 
The Company had 773,563 and 967,996 shares of unvested restricted stock as of September 30, 2024 and 2023, respectively, that were not included in the computation of diluted earnings per common share because performance conditions for vesting had not been met.